Micron Upgrade, Nvidia Rally Power Nasdaq Higher
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The PHLX Semiconductor Index experienced a 1.5% increase on Monday, led by Micron Technology. Micron’s shares were up 5% following an upgrade by analysts at Baird. The analysts have raised their price target for Micron shares to $150 per share, up from $115. The strong rally has positioned Micron as the top performer in both the S&P 500 and the Nasdaq 100 for the day.